I have 2 coats finished and have another 2 on their way. I really enjoy making these sweet little coats and would love to start listing an assortment of one of a kind coats on Etsy.
I have started getting messages from people wanting to buy them. Thing is, I have absolutely no idea how to price them. What is a reasonable price, without selling myself short? I've searched Etsy and online and have found similar (but nothing quite the same) coats selling for anywhere between $50 and $225! At what price point do my coats belong?
As a general idea, I'm spending anywhere from $25-40 on materials (depending on whether I get a bargain or not!) and for the vintage coats with the handsewn lining, between 5 and 7 hours hard labour to create a single coat. So what is my time worth? What are people willing to pay?
Any tips? Can anyone honestly tell me how much they would be willing to pay for one of my vintage or reversible pixie coats? Help!
As a very rough guide, 3 times cost of materials is a good place to start, but you have to be happy with the price. You don't want to undersell such beautiful work. I always say price a bit higher, you can always discount if necessary but it's much harder to put your prices up dramatically. Good luck with it
ReplyDeleteThank you so much for that advice. I was thinking the same thing about increasing the price once they are on the market, but I don't want to price myself out of the market either!
ReplyDeleteThe Etsy store is ready to go, I'm still pondering the price issue and getting the courage to list my first coat :)